Introduction
Being one of most essential industries in India, Iron and steel industry has helped in generation of several subsidiaries and small scale industries. It also supports transport, fuel, power and communication industries. It is estimated that Indian iron and steel industry exports around 50% of total production. Production in these industries has been increasing for last 20 years. Also there is an increase in export of iron ore. Experts believe that reduction in export duty has helped iron and steel industry grow at a rapid pace. There are several players that operate in this industry in India. Major ones include Tata Steel, SAIL, Jindal Steel and power limited, Essar Steel and Bhushan Power and steel.
History of Iron and Steel Industry in India
Since independence, Indian iron and steel industry has been growing at a steady pace. Establishment of first steel plant in India goes back to 1870, when first blast furnace was built in Kulti, West Bengal and steel was first time produced in 1905. However production on a noticeable large scare started in 1907 when steel plant was established in Jamshedpur, Bihar, which started production in 1912. Post Jamshedpur other steel plants were established in Bhadrawati and Burnpur. However it was only after independence that steel industry was able to establish itself in true sense. Plants in Bhilai and Bokaro were established with help from Soviet Union and Durgapur and Rourkela came up with British and West German partnership.
Production Scenario of Iron and Steel Industry in India
This industry is classified as heavy industry as all its raw materials are heavy and massive. They employ iron-ore, lime stone and coking coal in huge quantities. Efficient transport system to carry r...
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...verseas financial markets, and rationalization of existing tax structure
Government Policy
The government has formulated policies that are favourable for steel manufacturers. However, there exists certain discrepancies in the allocation of land acquisitions and iron ore mines. In addition, the new entrants face a lot of regulatory clearances and other issues in the iron and steel industry. Indian steel industry has high custom tariffs and non-tariff barriers making its highly insulated. The competition in iron and steel industry have changed the objectives, the structure and culture of an organisation in order to achieve high efficiency and global competitiveness and the objective has already been achieved by several industries in India. But the lack of coordination between different departments of the organization and state governments are also a matter of concern.
Many developed and developing countries want to protect their own industries such as India who is still reluctant to give foreign firms greater access to its economy, as shown by the political row over its much delayed decision to open up the supermarket sector to global giants
Also, the competition between existing players in this industry is high. There are about 619,000 metal enterprises in the USA in 2005 (IBISWorld, 2007).There are many companies that produce different kinds of metal products in the market. Besides, the bargaining power of buyers is high because product difference for the buyers of the metal products is small. It is not easy to differentiate the quality of one metal product from another. In addition, the cost of switching for the buyers is low. The number of substitutes of metal products is also high thus the buyers have great bargaining power.
For decades, the steel industry has been one of the toughest markets on a global scale with most steel corporations ending up in bankruptcy. Foreign and domestic competitors, management issues, environmental issues, political agenda’s and technology have had much to do with the demise and more so of the success of the steel industry. The issues that this case focus on Nucor Corporation was of:
The extraordinary power of the steel industry to shape the life of its communities and the people in them remain...
The beginnings of modern processing of iron can be traced back to central Europe in the mid-14th century BC. Pure iron has limited use in today’s world. Commercial iron always contains small amounts of carbon and other impurities that change its physical properties, which are much improved by the further addition of carbon and other alloying elements. This helps to prevent oxidation, also known as rust.
Have you ever wondered what steel did for the country, or even the world? Well, steel had the leading roll and the greatest impact on industrial America. Steel had been used for many years, it helped American life in many ways. It also was a cheap and quality material that was built to last. Without steel the way we see the world now would be very different.
The Presently MOF program is focused on the pit to port system of logistics of mine operations. Under this program, ADS is used for the drilling and blasting process, and AHS trucks are for the loading and hauling process. It has been seen that MOF offers many benefits for the stakeholders which may improve health and safety (Howell, 2000). It is to
The strategy will be carried out within 3 years and finances will be disbursed for this project after full cost analysis is carried out. The process of sourcing and training artisans will follow ethical employee guidelines and the factories will also be guided by work and environment safety laws which will help protect the brand from any law suits.
China and India both have ponderous bureaucracy systems created by history and tradition. Since the opening of China’s market to foreign investors in 1978 and India in 1991, they have been gradually moving from centrally planned economic system towards decentralisation. However, besides their continuous movements in order to provide businesses a better environment, significant problems still exist.
Ukraine has well established manufacturing sector of mining machinery. Companies such as SIC Mining Machines and Yasinovatskiy Machine Building Plan are well-established suppliers in a region. They are marketing themselves as suppliers of affordable mining equipment. However, their machinery is not built to the latest standards with regards the serviceability, energy consumption, and personnel safety. The equipment manufactured by SME does hold up to the highest standards for the mining equipment. In addition, the modularity and interchangeability of the product parts produces allows for much more efficient exploitation of the equipment in a production environment. By meeting consumer demands for safety, environmental performance, and durability, we can to differentiate our company and our offerings from other vendors.
The major environmental benefits of increased scrap usage comes from the very fact that production of one ton of steel through the EAF route consumes only 9–12.5 GJ/tcs, whereas the BOF steel consumes 28–31 GJ/tcs and consequently enormous reduction in CO2 emissions. In addition, a discussion on various alloying elements in steel and their presence in residual concentrations in the scrap on steel properties also presented. Finally, this paper presents a discussion on policy issues that could enhance the use of scrap in steel making also presented (Yellishetty, 2011).
Political factors: In India, there are very tough regulations put in place by the Indian govt. to avoid the monopoly conditions and govt. control remains at the top. This company is generally the state owned company therefore the decision making is very hard for the company and company has to follow the political changes which happen in the India. India has disputes with the Pakistan and China, which is continuously affecting the industry.
This coupled with rising number of coal-fired power plants being set up in India to supply electricity for its vast population as well as India’s favorable geographical position towards Indonesia is evidence to Indonesia’s comparative advantage in the production and export of coal. Also, the domestic consumption of coal in Indonesia is relatively low. Therefore, the high national production along with high foreign demand leads to a scenario of larger
To become leading alloy castings producer in India by providing qualitative products to customers and create value towards
In logistic industry, they have been through lots of challenge in worldwide market. As the containerization of the global economy scopes, a phase of development and explanation, ports find themselves inserted in ever changing commercial environment where logistics is the forefront. Thus, this industry reaches a phase of maturity and rationalization due to the process of logistic on land.